CHINA

A senior International Monetary Fund official said on Monday that China was taking steps to reduce property bubble risks and said it has room to add fiscal stimulus if conditions worsen.

Chancellor Angela Merkel cemented her political ascendancy in Europe Monday when 25 out of 27 EU states agreed to a German-inspired pact for stricter budget discipline, even as they struggled to rekindle growth from the ashes of austerity.

French art database and ad specialist Artprice.com expects sales to soar this year on the back of the launch of an online auction service, its chief executive told Reuters on Monday.

Stocks fell on Monday after Greece's efforts to reach a debt restructuring with creditors stalled, hampering European leaders' push to shift the market's focus to jobs and growth.

Apple, which was left upset by how the iPhone 4S launch party in Mainland China, was spoiled by scalpers, has set up a lottery system, for the iPhone fans in Hong Kong, aimed to keep the scalpers at bay.

China lost an appeal at the World Trade Organization on Monday in a case about its export restrictions on raw materials, a ruling that could make it harder for major commodity exporters to withhold supplies on the global market.

Asia's central bankers have yet another reason to hesitate now that the U.S. Federal Reserve looks likely to keep interest rates low for longer.

The Sudan military rescued 17 of the Chinese workers who were abducted from their camp in South Kordofan on Saturday. They were reportedly taken to a safe place, but at least 29 workers are still being held.

Starbucks Corp will open its first coffee shops in India in August or September, a year later than originally planned, and aims to have 50 outlets by year-end through a tie-up with the Tata group, the country's biggest business house.

Hong Kong shares snapped a six-session winning streak on Monday, dragged down by Chinese banks and developers, as investors took profits on some recent outperformers while waiting to see if there will be a Greek debt-swap deal that averts a default.

Copper fell on Monday, pulling back from a four-month high as demand prospects dimmed amid a lack of progress in talks to avoid a disorderly Greek default, tempting investors to cash in on January's rally.

India and China are following dramatically different trajectories in their paths to prosperity.

Swiss engineering group ABB said it had agreed to buy U.S. electrical components maker Thomas & Betts for $3.9 billion to ramp up its presence in the world's largest market for low-voltage products.

Confidence in the euro zone's economy strengthened in January for the first time since early 2011, EU data showed on Monday, but a recovery in Germany masked a deterioration in France and Italy, highlighting the bloc's diverging fortunes.

Facebook Inc., the world's largest social networking site, is getting closer to its initial public offering this week as the company is reportedly planning to file papers with the U.S. financial watchdog on Wednesday. Speculation is rife that the social media giant is aiming to raise about $10 billion, which would value the company at between $75 billion and $100 billion.

Honda Motor Co <7267.T> expects to grab at least a quarter of the world market for small business jets soon after delivering its first aircraft next year, achieving the company's long-standing goal of taking to the skies, an executive said.

China intends to establish Shanghai as the global centre for yuan trading, clearing and pricing over the next three years as part of broader plans to make the commercial hub an international financial centre by 2020.

Free Syrian Army fighting President Assad's forces withdraw from eastern suburbs of Damascus after two days of fighting.

China will make Shanghai the global centre of yuan trading, clearing and pricing by 2015, according to a specific state plan laying out the city's future as an international financial centre.

China's Premier Wen Jiabao said the nation's government debt is at an overall safe and controllable level, that funding for key projects would be ensured and that applying the brakes to the problem would be done in a way to avoid systemic risks.

Armored forces loyal to President Bashar al-Assad took control Sunday of eastern suburbs of Damascus from opposition fighters after two days of bombardment and fighting with rebels, activists said Sunday night.